Did You Hasten to Purchase a Vehicle to Avoid Tariff Increases? Was It Worth It? | Carscoops

      With anticipated price increases, consumers have been rushing to dealerships.

      17 hours ago

      by Michael Gauthier

      Automobile sales have surged as buyers hurry to purchase vehicles before prices rise.

      Mazda, Ford, Hyundai, and Kia all reported significant sales growth last month.

      Although most manufacturers have maintained their pricing, cars may soon be thousands of dollars more expensive.

      Dealerships and retail locations have been crowded with shoppers purchasing high-ticket items, as prices are expected to soar following President Trump’s tariffs. This trend is reflected in the double-digit sales increases reported by several automakers last month.

      Hyundai's sales rose by 19% to 81,503 units, marking their best April on record. Mazda saw a 21% increase, Ford grew by 16.2%, and Kia experienced a 14% rise, while Subaru had a slight gain of 0.3%.

      More: Mazda’s Sales Spike As Customers Rush To Avoid Price Increases

      This leads us to our daily question: Did you rush to buy a new or used car to evade price hikes due to tariffs?

      The tariff situation remains dynamic, with a 25% tariff on imported vehicles and parts. This could potentially raise MSRPs by thousands of dollars, even though several companies have been keeping prices stable for now.

      Nevertheless, forecasts indicate a sharp deterioration in the situation, with prices likely to surge and certain items possibly becoming scarce in stores. A notable instance involves smart home company Wyze, which disclosed that they "Imported $167k of floodlights and incurred $255k in tariffs. That’s more than any of our founders received last year.”

      Setting aside the floodlights, I purchased a used Jeep Cherokee in March, with tariffs certainly weighing on my mind. As tariffs will ultimately lead to increased costs and reduced availability of new vehicles, many will shift to the used market, causing prices there to rise as well. Essentially, the scenario is expected to replicate the supply issues witnessed during the pandemic and chip shortage, which curtailed new vehicle production.

      While tariffs prompted me to make a quicker decision, purchasing a vehicle was necessary and not the sole reason for my choice. So, what about you? Have you recently purchased a new or used vehicle?